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cnbc.com
Here are all the ways the Iran war has affected the U.S. economy so far
The Iran war is starting to show up in the U.S. economy in ways both obvious and not so much.
theguardian.com
IMF calls for countries to economise on energy supplies, and hails UK’s budget deficit improvement – business live
Rolling coverage of the latest economic and financial news, as IMF managing director Kristalina Georgieva gives a press conference in Washington DCIran war escalation could trigger global recession, IMF warnsRecord-high export revenues from crude oil have pushed Norway’s trade surplus to its highest level since January 2023.Statistics Norway has reported that the country’s export revenues rose to NOK 199.9bn (£15.6bn) in March 2026.The closure of the Strait of Hormuz has caused a significant supply shock in the oil market, which contributed to the high oil prices in March, and thus the highest export value ever.“I wonder what the hit to global GDP would be if a nuclear weapon hit London,” Bessent said to the BBC. “I am less concerned about short-term forecasts, for long-term security.”The relationship between the two countries looks increasingly fraught. On Tuesday, Reeves used her strongest language yet to criticize Donald Trump’s war in the Middle East and the damage it has wreaked on the global economy. Continue reading...
theguardian.com
Government’s 1.5m housebuilding target in England is suffering subsidence | Nils Pratley
As the country’s biggest housebuilder cuts land buying and the Iran war pushes up costs, setting an ambitious figure appears even more foolishThis is what the government didn’t want to hear when its target to build 1.5m new homes in England during this parliament already looked out of reach. The country’s biggest housebuilder is trimming its purchases of new land because the Iran war has created “a less certain backdrop”.Barratt Redrow’s “disciplined approach” isn’t a downing of tools, it should be said. The company had previously expected to buy between 10,000 and 12,000 plots; now it will acquire between 7,000 and 9,000. In money terms, it equates to about £100m less from a £800m-£900m budget. It is a scaling-back, as opposed to the outright halt to buying new land that London-focused Berkeley Group announced a couple of weeks ago. Continue reading...
cnbc.com
Snap's stock jumps on plans to axe 16% of its workforce citing AI efficiencies
Snap was up in premarket trading on Wednesday after announcing plans to lay off up to 16% of its global workforce citing AI-driven efficiencies
cnbc.com
Anthropic's Mythos isn't threatening bitcoin. The real AI risk is at crypto exchanges
The Bitcoin blockchain itself has never been hacked and has operated securely and without interruption since 2009. The Mythos threat probably won't change that.
cnbc.com
UK finance minister Rachel Reeves blasts Trump administration over economic impact of Iran war
U.K. Finance Minister Rachel Reeves called for an immediate de-escalation to the Middle East conflict on Wednesday.
cnbc.com
Luxury stocks fall as Iran war weighs on earnings; Hermes sinks 8%
Hermes said wholesale activity was "significantly affected" in the first quarter by lower sales to concession stores, particularly in the Middle East and in airports.
cnbc.com
European stocks end lower as luxury slump weighs on sentiment
European stocks finished Wednesday in the red as regional traders assess the trajectory of the U.S.-Iran war.
cnbc.com
Tax Day proposal to exempt Election Day poll worker pay floated by House Democrats
Democrats and Republicans in Washington are both trying to capitalize on Tax Day.
cnbc.com
Struggling shoe retailer Allbirds makes bizarre pivot from shoes to AI, stock explodes more than 700%
Allbirds announced a deal with American Exchange Group to sell its intellectual property and other assets for $39 million in March.
theguardian.com
New EU entry-exit system causing up to three-hour delays, say airports
Airport body has asked for power to suspend EES checks requiring personal information and biometricsBusiness live – latest updatesTravellers going through some European airports are reportedly waiting up to three hours at border checks because of the EU’s new entry-exit system (EES).Passengers in airports in countries such as France, Germany, Belgium, Italy, Spain and Greece are waiting several hours at border checks, the Airports Council International (ACI) body has said. Continue reading...
theguardian.com
Snap Inc blames AI as it lays off 1,000 workers
Cuts by Snapchat’s parent company come in response to a declining stock price and pressure from an activist investorSnapchat’s parent company plans to lay off 16% of its employees, around 1,000 people, citing “rapid advancements in artificial intelligence”, the social media company told staff on Wednesday in an internal memo. The staff reduction is part of a wave of tech industry layoffs in the past year, with many firms blaming AI for the cuts.Snap Inc’s layoffs follow demands last month from Irenic Capital Management, an activist investor whose portfolio manager wrote a letter to the Snap Inc CEO, Evan Spiegel, calling on him to reduce costs and headcount while criticizing the company’s current strategy. In Spiegel’s memo to staff, he claimed that the layoffs would move Snap towards profitability and suggested that artificial intelligence could fill the lack of human labor. Continue reading...
cnbc.com
A few tankers and ships are going through the Strait of Hormuz. Here's the latest traffic
Tanker transits Tuesday were 90% below traffic before the U.S. and Israel attacked Iran, according to shipping deata.
bbc.com
Snapchat owner cuts 1,000 jobs as says AI will reduce repetitive work
The Snapchat owner is laying off around 16% of staff and withdrawn hundreds of open job roles.
theguardian.com
Big US banks rake in near $50bn profit as Iran war shakes markets
Six lenders, including Bank of America, Morgan Stanley and JP Morgan report jump in first-quarter earningsBusiness live – latest updatesBig US banks raked in nearly $50bn (£37bn) worth of profits in the first three months of the year, as they benefited from stock market turbulence triggered by the US-Israeli war on Iran.Wall Street’s largest lenders have reported a jump in first-quarter earnings, reflecting the surge in demand for trading services as investors dumped risky stocks and bonds and sought safer havens for their cash. Continue reading...
theguardian.com
The IMF refuses to name the cause of this global chaos. It starts with ‘Donald’ and ends in ‘Trump’ | Greg Jericho
The International Monetary Fund remains stuck in a situation where the biggest concern about inflation is wagesGet our breaking news email, free app or daily news podcastThe IMF’s latest World Economic Outlook has forced it to admit that things have changed since its previous update in January when it blissfully hoped things would be OK. Now there is mostly darkness and despair.The IMF’s January report was titled “Steady amid Divergent Forces”; whereas the latest outlook is headlined “Global Economy in the Shadow of War” and begins “the global outlook has abruptly darkened following the outbreak of war in the Middle East on February 28, 2026.” Continue reading...
cnbc.com
Bank of America tops estimates as CEO Brian Moynihan says consumer banking is 'healthy'
Bank of America, the second-largest U.S. bank by assets, has topped expectations for earnings per share for 23 consecutive quarters.
cnbc.com
Trump threatens to fire Powell if the Fed chair doesn't leave office on his own
Though most Fed chairs in the past have left after being replaced, Powell has demurred on what he plans to do.
cnbc.com
U.S. says Hormuz blockade 'fully implemented,' while signaling diplomatic off-ramp for Iran
The White House has been signaling a diplomatic solution to the conflict in the Middle East, as discussions around continuing negotiations with Tehran are underway.
cnbc.com
U.S. Treasury yields hold steady as markets eye Middle East resolution
U.S. Treasury yields were unchanged Wednesday as investors weighed the latest developments in the Middle East.
bbc.com
Trump threatens to fire Fed chair Powell if he doesn't leave in May
Donald Trump's threat marks the latest escalation in his ongoing spat with Jerome Powell.
cnbc.com
Chinese robotaxi companies forge ahead with UAE expansion despite Iran war
Ride-hailing company Didi plans to begin its first overseas robotaxi test in the United Arab Emirates later this year.
cnbc.com
United CEO had been considering a merger last fall, months before bringing it up to the Trump administration
United Airlines CEO Scott Kirby has said the next phase for U.S. carriers is figuring out how to better compete on a global stage.
bbc.com
Thames Water 'sleepwalking' into bad deal for customers, investor says
The troubled utility firm should be put into administration says a frustrated rival bidder.
cnbc.com
Morgan Stanley tops estimates as trading revenue exceeds expectations by nearly $1 billion
Morgan Stanley's results in the quarter were powered by the firm's fixed income and equities trading operations, which produced about $8.5 billion in revenue.
theguardian.com
BBC to cut up to 2,000 jobs in biggest downsize in 15 years
Announcement comes before Matt Brittin replaces Tim Davie as director general next monthBusiness live – latest updatesThe BBC is to cut as many as 2,000 jobs in the biggest downsizing of the public service broadcaster in 15 years.Staff were to be informed of the cuts, which will affect about 10% of the BBC’s 21,500 employees, at an all-staff meeting on Wednesday. Continue reading...
bbc.com
How many ships are crossing the Strait of Hormuz?
Since the start of the US blockade on Monday, 15 vessels have crossed the Strait of Hormuz, nine of which have links to Iran, BBC Verify analysis of ship-tracking data suggests.
cnbc.com
Chip giants AMD, Qualcomm and Arm back driverless car startup Wayve with fresh funds
Wayve now has major semiconductor names, including Nvidia, as shareholders as it looks to sell its technology to automakers who may be using different chips.
cnbc.com
Oil prices stable as possible Washington-Tehran talks raise hopes for Mideast peace deal
Oil prices were stable as optimism grew that Iran may restart negotiations with the U.S. and Israel, easing tensions over the conflict that has disrupted the Strait of Hormuz.
cnbc.com
OpenAI pulls back from Stargate Norway data center deal as Microsoft takes over
The AI startup is now in discussions with Microsoft about renting compute capacity
theguardian.com
How the US-Israel war on Iran is affecting African economies
For some, the impact is already being felt but others remain in limbo over their energy security and are hostage to an unlikely de-escalation• Don’t get The Long Wave delivered to your inbox? Sign up hereIt remains a confusing situation, but the strait of Hormuz now appears to have been closed twice. Once by Iran, and then by the US, which this week announced a blockade of its own on the reduced number of ships using Iranian ports. Higher fuel and energy costs for ordinary people across the world are the headlines, but as the war on Iran enters its sixth week, shipping restrictions and strikes on energy facilities in Gulf countries are affecting some of the poorest and most vulnerable economies in the world in more profound ways.I spoke to Dr. Zainab Usman, senior research scholar at the Centre on Global Energy Policy at Columbia University, about how the war and its blockades are affecting some African countries. Continue reading...
cnbc.com
Power Insider: The markets are obsessed with the Strait of Hormuz. Why it matters less than you think
Retail and pro traders are obsessed with gauging the traffic in the Strait of Hormuz, thinking they can gain an edge on where oil prices are going. They can’t.
theguardian.com
Norwegian group in talks to buy former Liberty Steel works in South Yorkshire
UK official receiver understood to prefer Blastr as buyer for SSUK’s electric arc furnace in Rotherham and site in StocksbridgeBusiness live – latest updatesUK officials have entered exclusive talks with a Norwegian startup to buy the former Liberty Steel works in South Yorkshire, in a significant step towards its rescue.Norwegian-owned Blastr is understood to be the bidder preferred by the government’s official receiver to take on ownership of the UK’s largest existing electric arc furnace in Rotherham and other works in Stocksbridge, both in South Yorkshire. Continue reading...
bbc.com
AA and BSM ordered to refund learner drivers for hidden fees
The owner of the driving schools has been fined for failing to disclose fees upfront online.
theguardian.com
$30m an hour: big oil reaping huge war windfall from consumers, analysis finds
Exclusive: Climate action blockers including Saudi Arabia, Russia and major fossil fuel firms set to make extra $234bn by end of 2026Middle East crisis – live updatesBusiness live – latest updatesThe world’s top 100 oil and gas companies banked more than $30m every hour in unearned profit in the first month of the US-Israeli war in Iran, according to exclusive analysis for the Guardian. Saudi Aramco, Gazprom and ExxonMobil are among the biggest beneficiaries of the bonanza, meaning key opponents of climate action continue to prosper.The conflict pushed the price of oil to an average of $100 (£74) a barrel in March, leading to estimated windfall war profits for the month of $23bn for the companies. Oil and gas supplies will take months to return to pre-war levels and the companies will make $234bn by the end of the year if the oil price continues to average $100. The analysis uses data from a leading intelligence provider, Rystad Energy, analysed by Global Witness. Continue reading...
theguardian.com
‘They want to keep denying us our rights’: workers in Vermont’s $5.4bn dairy industry fight for basic labor protections
Migrant labor fuels much of Vermont’s dairy industry, but workers are exempt from minimum wage rules, overtime protections and the right to unionizeHilario’s work shift on a Vermont dairy farm began at 10.30pm when he lifted a red fleece blanket and rose from a makeshift bed next to the kitchen sink.The 65-year-old pushed aside a lace curtain that covered his apartment door, dividing his room from the dairy’s sour-smelling milking parlor. In the barn, a horseshoe-shaped milking platform hummed awake. Super-producer black-and-white Holstein cows, twice Hilario’s size, peered out from vinyl curtains. Continue reading...
theguardian.com
Trump’s push to cut interest rates has echoes of ‘banana republic’, says Yellen
Former US Fed chair says lowering rates to reduce debt service cost can lead to inflation getting out of controlBusiness live – latest updatesThe former US Federal Reserve chair Janet Yellen has attacked Donald Trump’s push for lower interest rates, comparing it to the actions of a “banana republic”.The US president has repeatedly urged the central bank to slash interest rates, in the hope of cutting the government’s borrowing costs on its $39tn (£29tn) debt. Continue reading...
bbc.com
Commuters welcome second year of Translink fare freeze
Liz Kimmins acknowledged the decision was taken against a difficult funding backdrop for the public transport company.
theguardian.com
Tax Day is a reminder of America’s unequal tax system. But we can fix it | Zohran Mamdani, Gabriel Zucman and Joseph Stiglitz
There is no justification for a regressive system in which the super-rich contribute less than the rest of usToday, we have more income and wealth inequality than ever before. New York City’s average household income is $131,000. Without extreme inequality, residents could live reasonably well. Instead, a few people at the top of the income ladder capture enormous wealth, while millions of others struggle just to get by. Some simply can’t make it. For them, New York has become fundamentally unaffordable.This outsized level of inequality has enormous economic, political and social consequences. It undermines social and political cohesion, erodes trust in institutions and leads people to conclude, correctly, that the system is rigged. Continue reading...
theguardian.com
Soaring rents and a four-hour commute: the misery of the Lagos housing crisis
The Nigerian megacity’s dynamic growth is outstripping its rental supply, and wages are not keeping up with rising costsEvery weekday before dawn, Oluwatobi Ogundipe leaves his small flat in Sango Ota, an industrial town in Ogun state, for a four hour commute to the glass towers of Lagos Island.Despite working in one of Nigeria’s growing technology sectors, the 32-year-old product manager cannot afford to live any closer to his office. Continue reading...
cnbc.com
Russia offers China energy lifeline as the Iran war strangles global supply
"Russia can certainly fill the resource gap that has arisen in China," Russian foreign minister Sergei Lavrov said Wednesday.
theguardian.com
Aegon offloads 200-year-old UK business to Standard Life for £2bn
Deal will create pensions and savings group with 16 million customers and £480bn of assets, while Aegon focuses on USBusiness live – latest updatesThe Dutch financial services group Aegon has struck a £2bn deal to sell off its almost 200-year-old UK arm to Standard Life, as part of a US push in which the group will be rebranded as Transamerica.Standard Life, previously known as Phoenix Group, said the deal to buy Aegon UK would create a pensions and savings group with 16 million customers and £480bn of assets under administration. Continue reading...
theguardian.com
The Brexit delusion is dead – so now Keir Starmer doesn’t need to pretend any more | Rafael Behr
To rebuild relations with Europe in a dangerous world, the prime minister needs to win big arguments, not hide behind outdated red linesIn opposition, Keir Starmer pushed Brexit to the margin of debate. In government, he has learned that Europe is central to Britain’s interests whether you talk about it or not. The avoidance of painful arguments from the past turns out to be a handicap when making plans for the future.This was predictable. Labour’s 2024 general election manifesto pretended that Brexit was a historical event. It was something Boris Johnson got “done” in 2020, in fulfilment of his winning campaign pledge from the previous year. The terms could be tweaked, but Starmer promised to preserve the substance. That was an indulgence of public fatigue with the whole issue, made electorally expedient by fear of offending former Labour supporters who had voted leave in the referendum.Rafael Behr is a Guardian columnistGuardian Newsroom: Can Labour come back from the brink?On Thursday 30 April, join Gaby Hinsliff, Zoe Williams, Polly Toynbee and Rafael Behr as they discuss how much of a threat Labour faces from the Green party and Reform UK – and whether Keir Starmer can survive as leader. Book tickets here Continue reading...
cnbc.com
Trump renews criticism of UK, saying it should ‘drill, baby, drill’ for North Sea oil
Trump's comments come at a time when the U.K. government has said the Iran war energy shock shows the need “to get off the fossil fuel rollercoaster.”
theguardian.com
How a £2m bitcoin order made Nigel Farage the political face of UK crypto
Promotion of ‘bitcoin treasury’ firm with Kwasi Kwarteng draws new attention to Reform leader’s relations with industryA thumping electronic beat provides the soundtrack to the video as Nigel Farage appears in front of a bank of screens.At first glance, it could be yet another of the Reform UK leader’s “second jobs” – whether promoting gold as a pension fallback or recording Cameo videos. And in a sense, it is: Farage is promoting a £2m cryptocurrency purchase by a company in which he has £215,000 invested, Stack BTC. Continue reading...
cnbc.com
Chip giant ASML raises 2026 guidance as AI semiconductor demand stays strong
ASML beat first-quarter revenue and profit expectations and raised its sales guidance for 2026.
theguardian.com
AA driving schools ordered to refund 80,000 learner drivers over hidden fees
UK motoring group fined £4.2m by CMA for not showing full price of lessons at time of bookingThe AA has been fined £4.2m and ordered to make payments to more than 80,000 learner drivers for not showing the full price of lessons at the time of booking, an illegal practice known as “drip pricing”.The UK competition watchdog, which launched an investigation into the practices employed by the AA Driving School and BSM Driving School last year, said the AA-owned businesses must repay more than £760,000 as a result. Continue reading...
cnbc.com
CNBC Daily Open: Back-to-back gains on Iran peace talks hope
Global stocks rally in back-to-back gains on optimism of renewed peace talks between the U.S. and Iran.
theguardian.com
‘Field of Dreams stuff’: will Leeds finally get its trams after decades of promises?
Plans for return of such transport have been discussed for years, and not all local people believe that service will comeIt is 1993 and a young James Lewis is going to do work experience in Leeds city council’s highways department. His team, Leeds United FC, have only just relinquished the title of defending English champions. And the council is marching on with big ideas: putting the abandoned 1980s Metroline tram plan behind them, and forgetting the unloved 1991 concept of a Leeds Advanced Transit skytrain. The Supertram is the coming thing.“I remember these drawers and drawers, full of big paper plans,” says Lewis, 33 years on. Lewis is now leader of the city council, and it is all done online. Much of the city centre has been transformed, rebuilt and pedestrianised. Leeds United have never threatened to be champions again. But as Lewis stands outside Elland Road stadium, explaining how to cross the adjacent motorway, one thing has not changed. What Leeds really wants is to build a tram. Continue reading...
theguardian.com
Expert tips on borrowing cash, from everyday spending to £20k loans
There are many options, from cards to buy now, pay later. We find out the best – and the effect on your credit scoreUntil recently, if you wanted to buy something you couldn’t afford upfront, you reached for a credit card or took out a loan. Now, when you get to the checkout, you are likely to be faced with other options, including buy now, pay later (BNPL).With so many ways to borrow, the true costs and complexities aren’t always clear. Which option will actually save you the most money in the long run? And how might each option affect your credit score? We spoke to financial experts to get some answers. Continue reading...
cnbc.com
Trump takes aim at Pope Leo again, days after calling him 'weak on crime'
Trump's remarks came amid a running spat between the White House and the Vatican over the U.S.-Israel war against Iran.
cnbc.com
CNBC's UK Exchange newsletter: Britain's jet fuel crunch — and how we got here
The U.K.'s supply chain vulnerabilities could harm Britain’s ability to source jet fuel, posing a threat to the traditional summer getaway for British tourists.
bbc.com
Crisis grants launched for struggling families
Bradford residents affected by unexpected job losses or illness will be able to apply for help.
cnbc.com
Trump’s Hormuz blockade puts China, India in crosshairs as U.S. pressure on Iran spills over
The U.S. blockade of the Strait of Hormuz risks ratcheting up pressure on two of its most consequential relationships in Asia — India and China.
theguardian.com
IMF says strait of Hormuz closure raises prospect of ‘major energy crisis’ – video
The International Monetary Fund is forecasting a range of possible global economic scenarios due to the ongoing conflict in the Middle East. IMF’s chief economist, Pierre-Olivier Gourinchas, says: ‘Our adverse scenario assumes further disruption, leading to higher energy prices and inflation expectations, and tighter financial conditions throughout the year … Our severe scenario assumes that energy supply disruptions extend into next year with greater macro instability’IMF warns ‘unprecedented’ energy crisis could trigger global recession as Australia prepares for Washington talks Continue reading...
theguardian.com
Is the EU back in vogue? – podcast
Lisa O’Carroll reports on the ‘resetting’ of the relationship between the UK and the EUThis week, the Guardian reported that Labour is planning to bring in new legislation that will forge closer ties between the UK and the EU. Nearly 10 years on from the Brexit vote, the Guardian’s senior correspondent Lisa O’Carroll speaks to Helen Pidd about what a UK-EU reset would look like.Lisa and Helen also discuss the strength of the EU in the wake of Viktor Orbán’s defeat in the Hungary elections on Sunday. Continue reading...
bbc.com
Help to Buy mostly helped high earners, IFS says
People with lower incomes benefitted less from the house-buying scheme than those with high incomes, the influential think tank says.
theguardian.com
Lidl and Iceland ads are first banned under new UK junk food rules
ASA rules ads on Instagram and Daily Mail website broke ban on promoting items high in fat, salt and sugarLidl and Iceland have become the first companies to have ads banned after the introduction of rules cracking down on the marketing of junk food in the UK.The Advertising Standards Authority (ASA) has been policing the ban on ads featuring junk food on TV before 9pm, and in paid online advertising at any time of the day, since 5 January. Continue reading...
theguardian.com
Higher-income households benefited most from Help to Buy, thinktank finds
Analysis by IFS shows George Osborne’s mortgage schemes launched in 2013 had little effect on social mobilityHigher-income households were the biggest beneficiaries of George Osborne’s Help to Buy mortgage schemes, introduced in the 2010s, according to an analysis by the Institute for Fiscal Studies (IFS) thinktank.Launched by the Conservative-Lib Dem coalition government in 2013, Help to Buy involved two separate schemes aimed at making home ownership more achievable in a period of rapid house price growth. Continue reading...
theguardian.com
Cuba could beat US energy blockade with $8bn investment in renewables, says thinktank
Report by Common Wealth argues rest of the world should pay for country’s transition as reparative climate financeCuba could beat the US’s crippling energy blockade for ever with just an $8bn investment in renewable energy. And the rest of the world should pay for it.Those are the bold claims of a thinktank analysis of the embattled socialist republic’s energy policy, which claims that Cuba could show its Caribbean neighbours the way to a green energy future. Continue reading...
theguardian.com
Chiang Mai’s New Year revelry hit by smog and war-related price spikes
Air pollution caused by wildfires is another blow to northern Thailand’s tourism industry as businesses suffer amid war in IranThe Doi Suthep temple in northern Thailand is known for its spectacular views of Chiang Mai and the lush forested mountains that surround it. Over recent weeks, though, visitors can see little of the city beyond a thick cloud of grey haze.Persistent wildfires have caused intense air pollution across the north of Thailand, forcing three provinces to declare emergencies and triggering spikes in pollution-related illnesses. Continue reading...
bbc.com
Fines issued after fuel protests across NI disrupt traffic
Drivers were fined and others cautioned for public order offences after the protests caused traffic disruption.
bbc.com
Households could get free electricity for doing washing on sunny weekends
Providers can encourage people to use energy when "weather conditions result in excess supply".
bbc.com
Amazon to spend $11bn on satellite firm in growing Starlink rivalry
Amazon wants to get thousands more satellites into orbit to offer internet and mobile services.
bbc.com
'Bit of pain' worth long-term security from Iran, Bessent tells BBC
US Treasury Secretary said a "small bit of economic pain" was worth it to eliminate the threat of Iranian strikes on Western capitals.
bbc.com
Customers failed over outages, water boss tells MPs
Bosses at South East Water are grilled over failures that left thousands without water over winter.
theguardian.com
Reeves arrives at IMF with little leeway to prove its UK downgrade wrong
Chancellor faced with fund’s forecast that impact of Iran war will leave Britain as G7’s biggest loserIran war escalation could trigger global recession, IMF warnsThe Iran war is bad news for the global economy. But for some countries, the unfolding conflict is having a bigger impact than for others. The International Monetary Fund’s verdict is that Britain is the G7’s biggest loser.Amid the rising damage from the Middle East war, the Washington-based fund warned UK economic growth rate would be 0.5 percentage points lower this year than it had predicted back in January – the biggest downgrade among the club of wealthy nations. Continue reading...
bbc.com
UK faces biggest hit to growth from Iran war of major economies, IMF says
The financial body cuts its growth forecast for the UK and warns the war threatens to throw the global economy "off course".
bbc.com
Why and how is US blockading Iranian ports in Strait of Hormuz?
Donald Trump says that the US is blockading the Strait of Hormuz. What does this mean in practice?
theguardian.com
Run the dishwasher, plug in the car: how Great Britain plans to use record wind and solar power
With a summer glut on cards, customers are being urged to use more energy when renewables are abundantGreat Britain households to be urged to use more power this summer as renewables soarGreat Britain is on the brink of a record-breaking summer for renewable energy, which could lead to the first periods of zero-carbon electricity in the history of the power system.These green milestones are an important step towards the government’s goal of creating a 95% gas-free grid by 2030 to power the electric vehicles, heat pumps and greener factories that will help the UK to reach its climate goals. Continue reading...
bbc.com
Farmers protest rising costs with traffic disruption
Farmers say they are being hit on several fronts, with the price of fuel and fertiliser all facing a hike.
bbc.com
Oil prices continue to fall on hopes of new US-Iran peace talks
Crude prices fell back below $100 a barrel as markets hope an agreement can be reached between the two sides.
bbc.com
Fuel prices stop rising after 43 days of increases, RAC says
The motoring group says prices could start to come down over the next couple of weeks.
cnbc.com
A 'systemic' jet fuel shortage is brewing in Europe — and flights could be hit hard
'We've seen constraints in countries like Vietnam and Thailand on air travel, but this is also spilling over to Europe,' an ING analyst told CNBC.
theguardian.com
Bosses say AI boosts productivity – workers say they’re drowning in ‘workslop’
Workslop refers to AI-generated work that seems polished but is flawed and in need of heavy correctionsKen, a copywriter for a large, Miami-based cybersecurity firm, used to enjoy his job. But then the “workslop” started piling up.Workslop is an unintended consequence of the AI boom. It’s what happens when employees use AI to quickly generate work that seems polished – at least superficially – but is in fact so flawed or inaccurate that it needs to be heavily corrected, cleaned up or even completely redone after it’s passed on to colleagues. Continue reading...
bbc.com
Rolls-Royce launches new two-seater electric car
The company says it will create only 100 of its Project Nightingale in its Goodwood headquarters.
bbc.com
Morrisons plans to cut 200 jobs at head office
The supermarket says the redundancies form part of a restructure at its Bradford headquarters.
cnbc.com
U.S. Hormuz blockade hits India just as Russian oil purchase waiver expires, deepening energy worries
U.S. moves to blockade Iran, and let a Russian oil waiver lapse, squeeze India’s energy supplies, exposing its vulnerability under rising U.S. pressure.
theguardian.com
Surrounded by windfarms but out of work: the reality of the green jobs boom on England’s east coast
The government hails the ‘green revolution’ as a solution to economic decline, but some young jobseekers say the rhetoric does not match their experienceOn paper, Jake Snell, 19, sounds like the perfect candidate for a role in the UK’s burgeoning green energy sector. He has high grades in maths and physics A-level, a distinction in BTec engineering and another distinction in an extended engineering diploma. He has also done work experience at an engineering company.He is from Lowestoft, a coastal town in Suffolk, outside Great Yarmouth. Both towns contain areas that fall within the most deprived 20% in England and are part of a wider pattern of coastal places with low employment opportunities. Continue reading...
theguardian.com
British Gas sent me a £571 bill for a flat I’ve never owned or lived in
Now I’m being threatened with debt collectors because I don’t have a tenancy agreement or a mortgageBritish Gas opened an account in my name for an address that I have never occupied, and sent me a £571 bill. It declined to open a complaint because I “refused” to provide a tenancy agreement or mortgage statement which, since I’ve long since paid off my mortgage, I don’t have. It is now threatening me with a debt collection agency. IW, Northampton Continue reading...
bbc.com
Founder of China's Evergrande pleads guilty to fraud
Evergrande was once China's biggest real estate firm, with a stock market valuation of more than $50bn.
theguardian.com
Helium: the invisible gas that powers AI, and why it’s in short supply – podcast
Alongside the oil and gas stranded in the strait of Hormuz is another commodity vital to today’s economy: helium. It is a critical element in all kinds of areas from MRI machines to the Large Hadron Collider, and even deep-sea diving. It is also integral to the AI boom. And this isn’t the first time its fragile global supply chain has been threatened. So why is helium so useful, and what will happen if the shortage continues? Ian Sample hears from co-host Madeleine Finlay, and from Sophia Hayes, professor of chemistry at Washington University in St. LouisClips: CBCSupport the Guardian: theguardian.com/sciencepod Continue reading...
bbc.com
Man charged with attempted murder over attack on home of OpenAI's Sam Altman
The Texas man, who also faces federal felony charges, allegedly had documents advocating for violence against AI executives.
bbc.com
Hollywood stars unite to oppose Paramount and Warner Bros Discovery merger
Stars like Emma Thompson and Ben Stiller signed an open letter against the deal, which Paramount said will ensure creators "have more avenues for their work, not fewer".
bbc.com
Quantum computing: A tech race Europe could win?
With some promising computing companies in the field, could Europe be a leader in quantum tech?
theguardian.com
The UK needs more North Sea gas; imports from the US are the real enemy | Nils Pratley
Transition to a cleaner future takes time and we need supplies that are the least polluting and have the lowest costUK households to be urged to use more power this summer as renewables soarTerrific news: despite turmoil in the strait of Hormuz, the UK will have sufficient supplies of gas to meet demand this summer, said National Gas, which operates the gas transmission system, on Monday.But contain your relief. The summer months of lower usage were never likely to be a moment of stress. Gas via pipelines from the UK and Norwegian fields in the North Sea can handle virtually all UK demand when most of the 24m households with a gas connection have their heating turned off. Little liquefied natural gas, or LNG, the stuff that arrives on ships, is needed during the summer. Continue reading...
bbc.com
Oil jumps back above $100 after US-Iran peace talks fail
The failure of negotiations at the weekend has raised concerns that the global energy crisis will deepen.
bbc.com
US drivers head to Native American lands for cheaper gas
Some of the cheapest fuel in the country can be found on tribal land due to tax exemptions.
bbc.com
US home buyers 'frozen' as sales slump over Iran war fears
The number of homes sold in the US hit a nine-month low, with economists warning of the slowdown could worsen.
bbc.com
GTA-maker Rockstar Games hacked again but downplays impact
The incident marks the second time the games giant has been hacked by young, English-speaking hackers.
bbc.com
Green light to build nuclear power station that promises 8,000 jobs
Rolls-Royce has said the project will create 8,000 jobs across Britain.
theguardian.com
‘That crazy old man should leave Cuba alone’: farmers bear the brunt of Trump’s pressure campaign
In Artemisa, the country’s agricultural heartland, sanctions and fuel shortages have made a tough life almost impossibleAbraham Rodríguez stares at the corn furrows he must plough before the end of the day. It is not even noon in Artemisa, Cuba, but the sun beats down hard and he’s already tired: working the land is a tough job. He has done it for almost half his life, since he was 13 and his mother got a divorce. He is turning 26 this year.Farming has always been hard, he says, but now it is almost impossible to sustain. “I make 1,200 pesos (£1.80) a day, so I have to work two days to buy a bottle of oil.” Continue reading...
bbc.com
EasyJet passengers describe EU border 'nightmare'
Airlines warn of further disruption due to the introduction of a new EU digital border control system.
bbc.com
UK could adopt EU single market rules under new legislation
The move has raised questions over parliamentary scrutiny of future rules to deliver planned EU deals.
theguardian.com
The US small town coffee shop that created a viral drink: ‘I still don’t understand how it went so far’
The raspberry danish latte is making its way around the world after its inventors decided to share the recipeGive banana coffee a chance. How to make the viral (and delicious) Korean treatA viral coffee drink created by a little college town coffee shop on the outskirts of Minneapolis is now making its way around the world after its inventors decided to give the recipe away for free.After Little Joy Coffee’s raspberry danish latte, a spring seasonal drink, went viral in March, the shop’s owners decided to encourage coffee shops to rip off the recipe directly and add it to their menus. Continue reading...
theguardian.com
Tory ex-chancellor Jeremy Hunt proposes ‘social tariff’ to help less well-off with energy bills
Resolution Foundation backs plan to offset rising costs from Iran war likely to leave households £480 poorerThe former Conservative chancellor Jeremy Hunt has proposed a “social tariff” to help Britons cope with rising energy costs amid the Iran war, as a thinktank calculated that households will be nearly £500 worse off this year.The Resolution Foundation said households faced rising costs from higher gas and electricity bills and at the petrol pump. The thinktank urged ministers to accelerate work on a social tariff before winter, when energy costs will hit hardest, to offer targeted support to lower-income households. It has estimated the cost at £3.7bn. Continue reading...
theguardian.com
We lost £3,000 after collapse of Ikea’s solar panel installer
Swedish retailer continued to advertise partnership with Soly and failed to offer me any adviceI am one of many left thousands of pounds out of pocket after signing up for solar panels via Ikea’s website late last year.Ikea had partnered with the European installer Soly, and the fact the panels were being advertised via such a well-known company gave us confidence. Continue reading...
bbc.com
The Dutch village at risk of being demolished
Moerdijk has been earmarked for removal, to make way for a vast electricity substation.
theguardian.com
‘Too powerful for the public’: Inside Anthropic’s bid to win the AI publicity war
The firm says it withheld an AI model on cybersecurity grounds but sceptics say this was hype to lure investmentThis week, the AI company Anthropic said it had created an AI model so powerful that, out of a sense of overwhelming responsibility, it was not going to release it to the public.The US treasury secretary, Scott Bessent, summoned the heads of major banks for a chat about the model, Mythos. The Reform UK MP Danny Kruger wrote a letter to the government urging it to “engage with AI firm Anthropic whose new frontier model Claude Mythos could present catastrophic cybersecurity risks to the UK”. X went wild. Continue reading...
bbc.com
'Every drop of water counts': Fear for the future of Argentina's glaciers
A controversial law to ease protections for the glaciers has passed, opening the doors for mining.
theguardian.com
Gabrielle Chan on farmers managing fuel and fertiliser shortages during a war - podcast
Journalist, author and farmer Gabrielle Chan speaks to Guardian Australia political editor Tom McIlroy about the experiences of rural and regional Australians whose work and everyday life have been upended by supply chain disruptions caused by the war in Iran.The former political reporter also talks about the rise in Pauline Hanson’s popularity ahead of the Farrer byelection, which is expected to be a strong contest between a One Nation and independent candidate Continue reading...
bbc.com
TV for dogs booms but are they watching?
TV channels for dogs are multiplying but research is mixed on whether dogs are watching.
bbc.com
The construction boss who built a new life after three years in prison
Traci Quinn, who was jailed for a drugs offence, has transformed herself and set up a successful firm.
bbc.com
What do businesses want ahead of the election?
Shops, cafes and restaurants in Cardigan say increasing costs and low footfall are making it harder.
bbc.com
The US refinery now processing Venezuelan oil
Chevron is now importing 250,000 barrels of crude per day from Venezuela.
bbc.com
Businesses scramble to get noticed by AI search
Firms are changing the way they present information on their websites, so they get noticed by AI.
bbc.com
National Minimum Wage rises this week
Around 2.7 million people are set to receive a pay rise this week as the national minimum wage goes up by 50p to £12.71 for over 21s.
bbc.com
New laws to make it easier to cancel subscriptions
A crackdown on "subscription traps" could save the average person nearly £170 a year, according to the Department for Business and Trade.
bbc.com
The £5.30 orange juice that tells the story of why supermarket prices are sky high
Butter, chocolate, coffee and milk have all seen prices rocket. Tracing back through the story of one particular supermarket staple begins to explain why
bbc.com
Prepare for turbulence - how a prolonged Middle East conflict could reshape how we fly
The Gulf's hub airports made long-distance travel cheaper - but now their future looks unclear.
bbc.com
Sir John Curtice: Why Labour's Brexit focus has shifted from Leavers to Remainers
Will the pursuit of a closer relationship with the EU risk courting electoral disaster by alienating Brexit-backing voters?
cnbc.com
Register now: Applications open for the World's Top Fintech Companies 2026
CNBC and Statista chart the top fintech players from around the world, ranging from startups to Big Tech names.
bbc.com
The real impact of roadworks on the country - and why they're set to get worse
There is a fine balance between the benefits of improved infrastructure, versus the cost of disruption. Does the country have it right?
bbc.com
Why the railways often seem to be in such chaos over Christmas
Parts of Britain’s rail network will close for engineering work over the festive period - but is that the right time to do it?
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